The total remuneration of executive directors and non-executive directors of Hellenic Bank Cyprus amounted to €2.04 million in 2022, according to the group’s annual financial results.
At the same time, the board of directors has decided to propose to the annual general meeting of shareholders a vote for increased remuneration in 2023.
Specifically, Chief Executive Officer Oliver Gatzke’s total remuneration and benefits in 2022 reached €771,161 while Antonis Rouvas, Chief Financial Officer, took home €312,229.
Gatzke’s compensation package also includes in-kind benefits such as private medical insurance coverage or participation in a health insurance plan (including dental coverage) for him and his family, life and permanent total disability insurance coverage and accident coverage for him during his employment with the lender.
Also, he is eligible to the use of a company car and payment by the company of all expenses related to such use, as well as annual housing allowance and annual travel allowance.
Gatzke was appointed as an executive member of the board of directors of Hellenic Bank and the group’s CEO on July 23, 2021.
According to the 2022 annual report, the chairman of the board of Hellenic Bank Evripides Polycarpou had total annual remuneration and benefits of €205,000.
The remuneration of the other members of Hellenic’s board of directors was as follows: Marco Comastri €105,000, Stephen John Albutt €105,000, Marianna Pantelidou Neophytou €75,000, Demetrios Efstathiou €77,808, Marios Maratheftis €75,000, Christos Themistokleous €98,315, John Gregory Iossifidis €75,000, Andreas Persianis €80,000, Miranda Xafa €64,808.